Losers of the Boom Flashcards
Who were the 6 groups that didn’t benefit from the boom?
farmers, traditional industries, African-Americans, inequalities of wealth, immigrants, Native Americans
Farmers: how didn’t benefit?
too may crops so prices fell and had to borrow money from banks to survive
more and more into debt then sell farms and leave
Farmers: where did they leave to?
wondered around america for jobs
they where called hobos
Farmers: By 1928 how many were in poverty?
half
Farmers: How many lost their farms?
600,000 in 1924 alone
Traditional Industries: How didn’t benefit?
couldn’t keep up wih mass production unlike Ford
AND
reduction in power Labour Unions (Trade Unions) so unable to claim better wages and working conditions
Traditional Industries: Name 3 that were losing
Coal
Ship building
Cotton
Traditional Industries: why was coal losing?
workers made redundant as prices fell due to too much coal and not enough ppl/countires buy it
Traditional Industries: why Ship Building losing?
thousands redundant due to reduction in demand for new ships
Traditional Industries: why was cotton failing?
new synthetic fibres were being developed like RAYON - very popular substitute
AND
fewer workers needed to make rayon
African-Americans: Where did they mostly live?
southern states like Mississippi and South Carolina that advertised segregation
African-Americans: What did many work as?
Sharecroppers- rent small areas of farmland
African-Americans suffered the most in general- already poor too
African-Americans: What often happened instead?
many moved to cities or upstate but they could only work low-paid jobs and lived in ghettoes
Native Americans: What happened?
Most of their land sized by mining companies so their traditions disappeared
Native Americans: What happened when they were forced to move to reservations?
soil was very poor so impossible to grow crops properly
Native Americans: What was their living state like?
lived in extreme poverty, porr education, lower life expectancy than other ethnic groups in US
Immigrants: What was it like?
many uneducated
very low wage jobs and lots of prejudice
Inequalities of wealth: What % of the richest earned % of all money in America?
the richest 5% earned 33% of all money
Inequalities of wealth: In 1927 how many millionaires were there?
15, 000
Inequalities of wealth: in contrast of the millionaires, how many families income <$1000/yr
6 mil
Inequalities of wealth: Compared to 1921, 1924&1926 how many individuals incomed $1mil+
21 in 1921
75 in 1924
207 in 1926
